but in the meantime could someone please tell me how the SPP happens - shares only that is. Don't we have to vote on that? If so, then where is the Resolution?
Resolution 1 is the ratification of the first issue: converting it from an issue under the 15% rule to an issue with the approval of the shareholders. It's an all or nothing affair: shares and options, or nothing. Resolution 2 is similar. Resolutions 3, 4, 5, and 6 are for ratification of the issue of shares and options to the directors.
Now, I'm getting the impression - but haven't been able to find a definitive citation to prove - that a share purchase plan, announced to current shareholders, for up to $15,000 per shareholder can be done without prior approval. If that's the case, then it explains (1) why it's for a flat amount, rather than being pro-rata; and (2) why we have to ratify the issuing of options, but not of the shares themselves.
I'm currently leaning towards a "no" for 1, 2, 3, 4, 5, 6, and 8, and a "yes" for 7. The main concern is that saying "no" to 2 may leave the company short on money; but unfortunately, without being able to say "yes" to the shares and "no" to the options, there's no meaningful alternative.
PEK Price at posting:
15.2¢ Sentiment: Hold Disclosure: Held
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